(RTTNews) – The Malaysia stock market has moved lower in three straight sessions, slipping more than a dozen points or 0.9 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,525-point plateau and it’s looking at another soft start again on Thursday.
The global forecast for the Asian markets is soft amid continued uncertainty over U.S. trade policies. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.
The KLCI finished slightly lower on Wednesday following losses from the financial shares and plantations, gains from the industrials and a mixed picture from the telecoms.
For the day, the index slipped 2.68 points or 0.18 percent to finish at the daily low of 1,523.48 after peaking at 1,532.80.
Among the actives, 99 Speed Mart Retail jumped 1.40 percent, while Axiata spiked 1.97 percent, Celcomdigi lost 0.26 percent, CIMB Group sank 0.43 percent, Gamuda surged 2.40 percent, IHH Healthcare was up 0.14 percent, IOI Corporation plunged 2.69 percent, Kuala Lumpur Kepong stumbled 2.26 percent, Maxis rose 0.28 percent, Maybank fell 0.10 percent, MISC advanced 0.94 percent, MRDIY added 0.63 percent, Nestle Malaysia dropped 0.61 percent, Petronas Dagangan soared 2.02 percent, Petronas Gas slumped 0.99 percent, PPB Group shed 0.35 percent, Press Metal tumbled 1.77 percent, Public Bank retreated 1.14 percent, RHB Bank tanked 2.63 percent, Sime Darby plummeted 4.81 percent, SD Guthrie declined 1.07 percent, Sunway climbed 1.06 percent, Telekom Malaysia gained 0.44 percent, Tenaga Nasional improved 0.71 percent, YTL Corporation strengthened 1.12 percent, YTL Power rallied 1.92 percent and Petronas Chemicals, QL Resources and Hong Leong Financial were unchanged.
The lead from Wall Street is soft as the major averages shook off a mildly positive open and headed south through the balance of the session, ending at daily lows.
The Dow dropped 244.95 points or 0.58 percent to finish at 42,098.70, while the NASDAQ sank 98.23 points or 0.51 percent to close at 19,100.94 and the S&P 500 slumped 32.99 points or 0.56 percent to end at 5,888.55.
The choppy trading came as traders seemed reluctant to make significant moves ahead of the release of earnings news from AI darling and market leader Nvidia (NVDA) after Wednesday’s close.
The earnings news after the bell showed that Nvidia beat the street on earnings and revenue, possibly lending support to technology shares going forward.
Lingering uncertainty about President Donald Trump’s trade policies also kept some traders on the sidelines following recent volatility.
Crude oil prices moved sharply higher on Wednesday on news that OPEC will establish output quotas for 2027. West Texas Intermediate crude for July delivery climbed $0.87 or 1.43 percent to $61.76 per barrel.
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